Deal Watch 8/25/11


Posted on August 25, 2011 at 8:08 PM

Allen & Gledhill advised Oversea-Chinese Banking Corp in its $5billion US Commercial Paper Program where Oversea-China may be in a position to issue unsecured commercial paper notes. Tan Tze Gay, Glenn Foo, and Sunit Chhabra, all partners, led the deal.

Allen & Gledhill advised Pacific One Energy in its mandatory conditional cash offer to obtain all the shares of KS Energy not already owned, controlled ot agreed to be acquired by Pacific One Energy and its concert parties. The maximum consideration for the offer is $290.6million, based on the maximum potential issued shares in KS Energy. Pacific One has also made offers to acquire all of KS Energy's outstanding listed warrants and convertible bonds and a proposal to the holders of KS Energy unlisted warrants to surrender their unlisted warrants in exchange for cash. Andrew Lim and Christopher Ong, partners, led the deal.

Clayton Utz advised Pacific Equity Partners and Unitas as the major shareholders in the sale of Independent Liquor to Asahi. Partners Philip Kapp and Niro Ananda led the deal.

DLA Piper advised Good Million Investments in its $37.5million sale of the entire issued share capital in China Technology Solar Power Holdings to China Solar Power. Esther Leung, partner, led the deal.

Fangda represented Tudou, the Chinese online video platform, in its $174million IPO and listing on NASDAQ. Doris Tang, partner, led the deal.

Freshfields Bruckhaus Deringer advised Ruen Chen Investment Holdings in its $2.16billion acquisition of Nan Shan Life Insurance, from AIG. The acquisition of MIG's 97.57 percent stake in Nan Shan Life was done on August 18th, after they got approval from the Taiwanese Financial Supervisory Commission along with other regulators. Heiner Braun and Roberth Ashworth, partners, led the deal.

Herbert Smith advised the joint bookrunners (which include some firms as UBS AG Hong Kong, Citigroup Global Markets Asia, BNP Paribas Capital, Goldman Sachs Asia, and Morgan Stanley Asia) in the $1.1billion IPO of Sun Art Retail Group on the HKSE and Rule 144A/Regulation S global offering. Matt Emsley and John Moore, partners, led the deal.

Latham & Watkins represented Bright Food Group in its acquisition of a 75% stake in Manassen Foods from CHAMP Private Equity for a total consideration of over $516billion. Latham also advised BFG on the $315million offshore financing facility for funding the deal. The deal is expected to pass though regulators and become official in December of this year. Rowland Cheng, partner, led the deal.

Mayer Brown JSM advised Phoenix Real Estate Investment Funds in its acquisition of more than 90%of the undivided shares in Arts Mansion, a luxurious Hong Kong apartment building. The joint sale deal was completed earlier in August. Mayer Brown also represented many of the lenders of the deal. Peter Ho, partner, led the transaction.

Paul, Weiss, Rifkind Wharton & Garrison acted as lead counsel to Morgan Stanley Private Equity Asia in its agreement to make a $100millionequity investment for a significant minority ownership stake in China XD Plastics Company. The investment by Morgan Stanley will help China XD expand and upgrade its production capabilities. Jack Lange, Mark Bergman, Stephen Lamb, and Tracey Zaccone, all partners, led the deal.

Watson Farley & Williams, Singapore, acted as lead counsel to a syndicate of international lenders, including Norddeutsche Landesbank Girozentrale Singapore Branch, as agent and security trustee, in the K-SURE backed pre and post delivery loan facility of up to $247.2million made available by Norddeutsche Landesbank Girozentrale Singapore Branch and Banco Santander SA, as lenders, with Norddeutsche Landesbank Girozentrale Singapore Branch, as swap bank, to the STX Pan Ocean group to part finance the acquisition cost in relation to three 400,000 DWT Very Large Ore Carriers (VLOCs) presently being constructed by STX Offshore & Shipbuilding Co Ltd. Partner Goh Mei Lin led the transaction whilst the firm's New York office acted as special Marshall Islands counsel to the lenders.

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